Hi all. I’m Mrs Flipomatic, but feel free to call me Mrs Flip for short. I’m a new mom that wants to be a stay-at-home-without-9-to-5-remote-job mom. I use to work for a bank before college and did a very short stint (due to the Great Recession) as a financial analyst after college, which jaded me for a while. I then switched to IT a year or so later. I do love technology and coding, but not the strict hours. But working in the industry has helped me financially, I was able to pay off student loans and eventually open a brokerage account for my 401k and it’s doing pretty good. Let just say that I bought GameStop stock when it was down (after it was closing retail stores left and right) and sold after it became a meme… It was this experience that further solidified my distrust of owning stocks straight out as hedge funds can manipulate the price of a good company to the detriment of the retail trader. Forex trading appeals to me in that it can’t be as manipulated and is more influenced by geopolitical issues than a couple of bigwig hedge fund players. I’m looking forward to learning more about Forex, trading in this arena and meeting likeminded folks.
Hi @mrs_flipomatic,
Great name, and welcome to the forum. I see you have some background in financial services, but I am amused at your assertion that Forex cannot be manipulated. The biggest banks in the world have actually been fined some billions of dollars for rigging close of play overnight lending rates (which are a proxy for short term exchange rates) for decades. Their behaviours were more subtle than the actions taken to manipulate gold and silver by massive ETF fiat manipulation to the tune of up to 100 times the total available physical metal, but that is by the by.
I am sure you will benefit from the School of Pipsology education section at the top of this page. But if you make the assumption that Forex rates are not rigged (and admittedly that is the majority mindset) I think you will be missing a very valuable lesson on NOT what to do in your Forex trading.
Best of luck
Thanks for the warm welcome, @Mondeoman! I that you are amused. Thanks for the heads up, I was not aware that the overnight lending rates were a proxy to the short-term exchange rates… I am fairly aware of the manipulation of the precious metals though. I’ve got a lot to learn about this space. As far as the my financial background, it’s been 13+ years since I’ve actually, really put any effort into this and I am bit jaded. But make no mistake, I’m still aware that the “house” can/will always win and that all fiat eventually goes to zero.
Your words of wisdom haven’t fallen on deaf ears!
Hi,
Thanks for your kind reply. I have attached a video I watched nearly a year ago now that resulted in me committing about 200 hours of effort following this method of creating a Forex trading plan. Pretty scary stuff.
Oh my! Thanks for sharing that video, @Mondeoman, seriously! That EUR/CHF crash was nuts! What a nugget of a gold mine, VP is! Looking forward to diving into School of Pipsology, working through all his podcasts/videos and figuring out my trading plan. This method makes way more sense to me than most of the books I’ve previewed thus far.
You’re welcome Mrs Flip